Jaffetilchin Investment Partners LLC purchased a new position in LogMein, Inc. (NASDAQ:LOGM) during the second quarter, Holdings Channel reports. The fund purchased 2,802 shares of the software maker’s stock, valued at approximately $293,000.

Several other hedge funds also recently made changes to their positions in the company. Elliott Management Corp bought a new stake in shares of LogMein during the first quarter worth $118,804,000. Teachers Advisors LLC boosted its stake in shares of LogMein by 48.6% in the first quarter. Teachers Advisors LLC now owns 348,029 shares of the software maker’s stock worth $33,933,000 after buying an additional 113,746 shares during the last quarter. Weiss Multi Strategy Advisers LLC bought a new stake in shares of LogMein during the first quarter worth $1,951,000. Massachusetts Financial Services Co. MA boosted its stake in shares of LogMein by 155.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,597,788 shares of the software maker’s stock worth $155,784,000 after buying an additional 972,980 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of LogMein by 124.1% in the first quarter. Morgan Stanley now owns 299,157 shares of the software maker’s stock worth $29,167,000 after buying an additional 165,648 shares during the last quarter. Institutional investors and hedge funds own 97.39% of the company’s stock.

Shares of LogMein, Inc. (NASDAQ LOGM) opened at 117.70 on Thursday. The firm’s market capitalization is $6.21 billion. The company has a 50-day moving average price of $111.89 and a 200 day moving average price of $106.60. LogMein, Inc. has a 52-week low of $79.63 and a 52-week high of $123.95.

LogMein (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.08. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The firm had revenue of $266.95 million during the quarter, compared to analysts’ expectations of $264.95 million. During the same quarter in the previous year, the company posted $0.49 EPS. LogMein’s revenue was up 220.6% on a year-over-year basis. Analysts expect that LogMein, Inc. will post $4.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Wednesday, August 9th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Monday, August 7th. LogMein’s dividend payout ratio (DPR) is presently -909.01%.

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A number of analysts have recently weighed in on LOGM shares. KeyCorp upgraded LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 price target on the stock in a research report on Friday, July 28th. Zacks Investment Research cut LogMein from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. BidaskClub upgraded LogMein from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Cowen and Company increased their price target on LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Finally, Vetr cut LogMein from a “hold” rating to a “sell” rating and set a $101.67 price target on the stock. in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. LogMein has an average rating of “Buy” and an average target price of $127.74.

In related news, CEO William Raymond Wagner sold 4,588 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $116.30, for a total value of $533,584.40. Following the completion of the transaction, the chief executive officer now owns 69,542 shares in the company, valued at approximately $8,087,734.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James Lok sold 960 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $111.00, for a total transaction of $106,560.00. Following the completion of the transaction, the senior vice president now owns 2,109 shares of the company’s stock, valued at approximately $234,099. The disclosure for this sale can be found here. Insiders sold a total of 116,860 shares of company stock valued at $13,258,245 in the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

LogMein Company Profile

LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.

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Institutional Ownership by Quarter for LogMein (NASDAQ:LOGM)

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